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Kifer} [Finance Stoch. 4, No. 4, 443--463 (2000; Zbl 1066.91042)]. The pricing and hedging of these options is reduced to evaluating a saddle point problem associated with Dynkin games. In this paper two examples of perpetual Israeli options where solutions can be presented in the explicit form are demonstrated. The method of analysis is straightforward. The author guesses the form of the optimal stopping strategies using heuristic arguments based on fluctuation theory and then shows that the suggested solutions solve the associated saddle point problem. Martingale techniques are used. The Israeli \\(\\delta\\)-penalty put and Russian options are considered and the solutions of the saddle point problem are presented for these cases. 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